Barchart Stock Chart of the Day – February 23, 2009

Auto sales are terrible and Detroit automakers are begging Washington for bailouts. Yet it’s an ill wind that blows no good. And the good that comes from all of us holding onto our cars for longer is that auto parts retailers are seeing booming business.

While looking over the meager list of stocks today that are making new 52-week highs, we noticed AutoZone (AZO) , the national chain of auto parts stores.

Barchart Opinions for AZO are:

    Short Term Indicators Average: 100% Buy
    Medium Term Indicators Average: 100% Buy
    Long Term Indicators Average: 100% Buy
    Overall Average: 100% Buy

Barchart Trend Spotter Signal : Long since February 18, 2009.

Sector Performance: AZO is a member of the Retail - Wholesale Auto Parts sector, where it is the 3rd  best performing stock out of 7 stocks in the sector. While the sector as a whole has a weighted Alpha of -0.33%, AZO itself has a weighted Alpha of +23.20% indicating that it is significantly stronger than the sector as a whole. To learn more about weighted Alpha, visit the Barchart Learning Center.
  
How we spotted this chart: We noticed AZO while viewing Barchart’s Overall 52-weeks highs page with a relative strength of 60.28%. We eliminated ETFs and stocks under $10.00 from consideration.

Recent Developments:

AutoZone (AZO) will report earnings next on March 3rd. Analysts expect that the company will report EPS of $1.84 compared with $1.67 in the same period last year.